Qualified long-term-care insurance (LTCI) policies are entitled to special tax treatment. To be termed "qualified", the policy must be guaranteed renewable and cannot have any cash value. A qualified policy requires that a person 1) be expected to require care for at least 90 days, and be unable to perform two or more activities of daily living (eating, toileting, transferring, bathing, dressing, and continence) without substantial assistance; or 2) for at least 90 days, needs substantial assistance due to a severe cognitive impairment. Most policies sold these days are qualified policies, but make sure before you buy.
The Thursday, March 31, Intelligencer/New Era carried The Motley Fool's School article entitled "Probate 101."